18 May 2016 8:58

Moody’s assigns a preliminary rating (P)Baa3; stable outlook

The rating agency Moody’s has assigned IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. a provisional first-time long-term issuer rating of “(P)Baa3” with a stable outlook.

Claudio Albertini, IGD’s Chief Executive Officers stated: “We are very satisfied with the rating obtained which reflects IGD’s solid creditworthiness, as well as the quality of the work done over the years on both operational level and financial structure.

The rating takes into account the solidity of IGD’s portfolio focused on food anchored retail properties, the maturity of the lease agreements, as well as the moderate and sustainable financial leverage.

This preliminary rating, assigned also in relation to the bond issue approved and announced yesterday, will allow IGD to access the debt capital markets at more favorable conditions in order to both partially refinance existing debt and finance future investments”.

The press release issued by Moody’s can be found by using the link below: https://www.moodys.com/research/Moodys-assigns-PBaa3-issuer-rating-to-Immobiliare-Grande-Distribuzione-SIIQ–PR_348973 .